The digitalisation boom is at its peak, and the only ‘hot-selling’ thing is Online Content! How does a creator start to monetise? Whereby our reference is with the online content created on social media channels like Facebook, YouTube, Instagram, TikTok, etc. Surprisingly, the content creators blooming and mushrooming within this segment of media are also generating revenues, to be clear – handsome revenues. We can say that these content creators are monetising their content in simple terms.
What is Content Monetisation?
Content monetisation refers to willingly leveraging one’s curated content for earning revenues when users consume it. In layman’s terms, if someone is creating a video/blog/article/short videos etc. online and earns from it via user value, collaborations, advertisement placements within their content, etc.; it is said to be monetised.
When did Content Monetisation Start?
The boom of online content can be traced back to a decade or a little longer than that. The surge was witnessed post proliferation of smartphones, the introduction of free/cheap internet connectivity, and the availability of multiple social media platforms. Consequently, this motivated individual content creators to turn themselves into full-time content creators.
The rising number of content consumers is driving further growth for content creators
(Source: Kepios Analysis)
On Spotify, 43,000 artists receive 90% of royalties with an average range of $22.39/artist/quarter
When can I start monetising my content?
This is an open opportunity. Anyone anytime can monetise their content. However, monetisation is subject to certain parameters and benchmarks. These are generally laid down by the platform on which you are creating your content. Another major factor in gaining positive effects of monetisation is clear, unique, consistent, and quality content– when your content delivery is praised and appreciated by content consumers (in the form of increased views, subscriptions, comments, likes, and other means of popularity), revenue increases.
Several other external factors are as follows:
● Each platform has its unique approval criteria.
● It is no get-rich-quick scheme; it requires patience, consistency and quality.
● Platforms have policy schemes, violation of which can lead to termination of monetisation.
● Product promotions need to be under Federal Trade Commission (FTC) law regulations.
● High competition can lead to fluctuating compensation.
Monetisation funnels of different platforms
Another way to monetise is through workshops and courses. Through TagMango, creators have launched countless workshops for their audiences! This is indeed a great tool for claiming your financial independence. Join in with a click of a button and see the value in just 120 seconds!
Basic steps to start your digital journey and its monetisation
The first small steps of being a digital content creator should mandatorily include the following:
- Understanding your niche and area of expertise for content creation.
- Choose your platform from the umpteen options available.
- Set up your monetisation funnel.
- Plan a content calendar for a well-planned and synchronised publishing.
- Consistent approach.
Once the content creator has started their journey with these basic steps, they can think of monetisation strategies.
What is a Content Monetisation Strategy?
Apart from the revenues that are generated from the platform you are publishing your content, you can also create additional income through the following strategies.
This strategy can be applied once you have expanded your readership and have a good viewer base. With affiliate sales, creators can approach brands and endorse their products on their channels.
Advertisement runs on your channel/page:
Brands need recognition. They want to benefit from reference buying or review buying influenced by someone they trust. Content creators can choose the ads that they want to run on their channel/page and choose from varied payment options like:
❖ Personal sale
❖ Pay per action (CTA clicks)
❖ Cost per mille
❖ Pay per click
This is mostly for content creators who have positioned themselves as an expert in any field. You can then provide consultation, one-on-one coaching, Zoom classes, Skype coaching classes, etc. You can even consider conference and workshop hosting.
Refurbishing your content: If your content is in log format like blogs, education videos, etc., you can refurbish it into other digital formats like e-books/guides/podcasts and sell them on other websites or relevant platforms with a little extra value addition.
Premium charges for premium services: Say a content creator is a make-up expert and creates short videos on YouTube. They can offer a premium tutorial at a premium price to their subscribers or anyone interested. You can even create your price chart and service value.
Sponsorships: Companies and brands are ready to sponsor your videos/pages/websites if they find relevance between your content and their products. However, disclosure of this sponsorship is mandatory under FTC regulations.
Workshops and Courses
Creators can monetise their skills the best by teaching. Once your audience is confident about you and your process, it will not be a challenge to host workshops and build courses to teach them. This is exactly what we at TagMango enable – seamless hosting of workshops and live courses.
Cautions with respect to monetisation:
Monetisation is a great way to earn for your hard work and time invested in content creation. However, some content creators go over-the-mile with strategies. Many times, the quality of content is degraded for sponsorships and collaborations. This consequently ruins your value and viewership. Apart from that, content creators should always follow the regulations and disclose the endorsed brand and its relationship with it. You should also not make any false or unsustainable claims while reviewing a product.
So if you are looking to get started on your monetisation journey, head to TagMango, register as a Creator, build your first workshop is 120 seconds; and start earning! It doesn’t get easier than this.
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